Doom And Gloom On Newnsight Now

[Georgia O'Keeffe]

Damn that Gordon Brown for introducing the taxation of pension surpluses as profit through the 80s/90s coz the stockmarket always goes up, if only hed not been Chancellor for 30 years everything would be superduper

Edited March 14, 2012 by Tamara De Lempicka

[fluffy666]

Indeed

The top rated comment on Masons blog I suspect is rather c;lose to the truth on this whole debacle

Racking up debt and then inflating it away is a mechanism deliberately designed to keep all but the super wealthy in their place. Applied cyclically it becomes a "wealth harvest" pulling back any wealth which may have trickled won or been created by "ordinary" people and stashing it in the coffers of the rich.

The one thing the masses can not be allowed to do is to accumulate and control their own capital. If that was to happen how could they be controlled ?

I don't understand haw the above quote works. If you look at measures of inequality in the UK, the low point in the 1970s was associated with high inflation; the heights of the 1930s and the present day are associated with low inflation. Inflation may erode cash savings (although not share-based savings, property, etc), but it also erodes personal debt. If you are a rich person/entity who is lending money out you want low inflation.

Now, there are other forces at work here.. but I do get the impression that the whole '[moderate] Inflation is bad for the masses' argument is an awful lot like the '50p tax rate reduces revenue' argument - it only makes sense if you don't ask for the numbers to prove it.

[SHERWICK]

What sort of forum have we become when a thread on a Newsnight special on the inevitability of eventual UK bankruptcy attracts no replies?

(I assume there was another thread? )

Well, we've been saying it for 8 years now...

[koala_bear]

What sort of forum have we become when a thread on a Newsnight special on the inevitability of eventual UK bankruptcy attracts no replies?

(I assume there was another thread? )

Of course - try this one with 50 +replies:

http://www.housepricecrash.co.uk/forum/index.php?showtopic=176369

[madpenguin]

What sort of forum have we become when a thread on a Newsnight special on the inevitability of eventual UK bankruptcy attracts no replies?

(I assume there was another thread? )

At least 2 others so far, Mr. Merge-Threads is obviously asleep

Doom And Gloom On Newnsight Now

Financial Repression

Edited March 14, 2012 by madpenguin

[long time lurking]

Read it thoroughly: http://www.bbc.co.uk/news/business-17301032

As I've said on many a post, the demographic cliff is going to make the last decade look like clover.

also needed further ruleYou s to force pension funds to hold a certain amount of home government debt. In this way you create and encourage a "national pool" of capital, from which savers can't escape.

Hmmm getting a bit worrying now ,could this be why Prue are looking to move it`s base to Asia?

[long time lurking]

Over the years i can remember reading various Demographic links on here.

This will come as a shock to some, but not your average HPCer.

No less unpalatable though.

Im planning on redoubling my efforts to hook up with my ex in the south of France.

It aint gonna be pretty anywhere, but at least its hot down there.

Your ex got a sister by any chance

[madpenguin]

Here's the iPlayer link:

http://www.bbc.co.uk/iplayer/episode/b01dk03l/Newsnight_13_03_2012/

I'm considering one of these and never putting in to shore:

I've been thinking along similar lines lately, maybe the future will become a bit like Waterworld, at least at sea there might be a few fish left, and a decent desalinaton unit and solar cells would probably be essentials (along with a good collection of weapons!).

Just been talking to my Boss who's a keen sailor, apparently powered boats (with engines) are getting increasingly harder to sell due to rising fuel costs, he has just bought some new sails for about €4k, however they should last about 10 years, so sounds like sail is definitely the way to go.

Mind you had another colleague who has lived on boats and he maintains it's pretty grim, cold wet etc.

[Democorruptcy]

Isn't the answer to go where the immigrants are coming from?

The immigrants are coming here because our wages are higher but we know that in reality those wages are useless in relation to living costs. As the living costs are so high more and more people, including immigrants turn to a life of living off the state. Then we need more immigrants to come and work to try support those living on benefits and drawing pensions. We get over crowded, house prices rise but we are going to be taxed to breathe. It's no good being asset rich but cash poor, it just means downsizing until you get to multiple occupancy or die first.

So... you take your money where wages are lower because that's where living costs are lower? Then your money lasts longer.

[madpenguin]

Isn't the answer to go where the immigrants are coming from?

The immigrants are coming here because our wages are higher but we know that in reality those wages are useless in relation to living costs. As the living costs are so high more and more people, including immigrants turn to a life of living off the state. Then we need more immigrants to come and work to try support those living on benefits and drawing pensions. We get over crowded, house prices rise but we are going to be taxed to breathe. It's no good being asset rich but cash poor, it just means downsizing until you get to multiple occupancy or die first.

So... you take your money where wages are lower because that's where living costs are lower? Then your money lasts longer.

This has been happening for some time, many pensioners retire abroad to get the benefits of a lower cost of living to make their pensions go further, I have to go to Bulgaria occasionally on business, was surprised to see UK pensioners every so often, apparently their is a community building up, wouldn't be my first choice (bloody cold in the winter) but property and costs are very low

[Democorruptcy]

This has been happening for some time, many pensioners retire abroad to get the benefits of a lower cost of living to make their pensions go further, I have to go to Bulgaria occasionally on business, was surprised to see UK pensioners every so often, apparently their is a community building up, wouldn't be my first choice (bloody cold in the winter) but property and costs are very low

I suggested to the mods that we have a Living Overseas section. I don't like ' Overseas Property Investment" it seems too anti-HPC for my tastes

[madpenguin]

I suggested to the mods that we have a Living Overseas section. I don't like ' Overseas Property Investment" it seems too anti-HPC for my tastes

Agreed, there's a definite mindset difference between choosing to leave the UK behind and having a foreign holiday home, most of which is trying to embrace to culture you live in, the ' Overseas Property Investment" is more of the same crap which got the UK in the mess it's in (property as an investment rather than a home).

Regarding the immigration debate in the UK most countries seem to have the same worries at the moment regarding immigration from poorer areas of the world as we have in the UK, just about different groups, in Bulgaria they moan about the Roma and former Soviet republic immigrants, travel is cheap now, you can travel round the world for affordable amounts even if your pretty poor.

[Bloo Loo]

Ah thank you both. Lots to read, and I'm sure the mods will eventually merge.

merged mods?....now that would be a sight to behold...

[winkie]

We've got trillions of pounds worth of London to sell.

...£trillions....that may buy you a small box studio.

[Democorruptcy]

Agreed, there's a definite mindset difference between choosing to leave the UK behind and having a foreign holiday home, most of which is trying to embrace to culture you live in, the ' Overseas Property Investment" is more of the same crap which got the UK in the mess it's in (property as an investment rather than a home).

Regarding the immigration debate in the UK most countries seem to have the same worries at the moment regarding immigration from poorer areas of the world as we have in the UK, just about different groups, in Bulgaria they moan about the Roma and former Soviet republic immigrants, travel is cheap now, you can travel round the world for affordable amounts even if your pretty poor.

I wasn't really thinking of Europe. Though if Greece defaulted I'd be interested to see what options were there after the aftermath.

[Si1]

Which he basically just said again now on the programme.

They are going to screw the prudent and anyone who does not have a nice index linked BOE, Parliament or Public Sector pension.

strikes me that public sector pensions will be screwed likewise, simply by lowering their real incomes on which these pensions are based and mnot letting them take them at 55

[Si1]

It happened in Argentina. Public sector middle class wiped out by raging inflation and - eventually in our case - non-fully index linked pensions. 5-10 years...

yep

[winkie]

yep

...yep....when is index-linked not index linked?...when it has a cap on.

[Game_Over]

It is slowly dawning on the BBC that we are f*cked for generations

They are clearly beginning to worry - given how much money they made out of the status quo.

The amusing thing is they seem to think the solution is more of what got us into this mess in the first place.

Reality is heading this way like a 100 mile asteroid heading for Earth

And the things they are doing to paper over the cracks just means the impact will be ten times worse.

Mason said something along the lines of

'we may have to accept a new form of social democracy with a much reduced welfare state'

No sh*t Sherlock.

Reality is that in the long term even capitalism can only fund about half the level of free stuff we have all come to take for granted

One way or another the Gravy train is over.

[Si1]

...yep....when is index-linked not index linked?...when it has a cap on.

or when it is CPI-linked

or also when it is linked to public sector salary which then goes up sub-inflationary for the next 20 years

[Jack's Creation]

It is slowly dawning on the BBC that we are f*cked for generations

They are clearly beginning to worry - given how much money they made out of the status quo.

The amusing thing is they seem to think the solution is more of what got us into this mess in the first place.

Reality is heading this way like a 100 mile asteroid heading for Earth

And the things they are doing to paper over the cracks just means the impact will be ten times worse.

Mason said something along the lines of

'we may have to accept a new form of social democracy with a much reduced welfare state'

No sh*t Sherlock.

Reality is that in the long term even capitalism can only fund about half the level of free stuff we have all come to take for granted

One way or another the Gravy train is over.

There's a couple of things you always need to bare in mind when watching one of Paul mason's reports.

Paul Mason SWP links

What he really feels about Public Sector pensions:-

Paul Mason on the picket line

Remember, this guy who is married to Jane Bruton-very well paid editor in chief of Grazia (who did some extremely pro labour/pro Brown articles in the run-up to the last election), will have a household income well in excess of £1/2 million pounds a year.

Here's another link you may find of interest:-

Entryism

Mi5 vetting of BBC staff was apparently phased out in the late 80's.

Edited March 14, 2012 by Jack's Creation

[Game_Over]

There's a couple of things you always need to bare in mind when watching one of Paul mason's reports.

Paul Mason SWP links

What he really feels about Public Sector pensions:-

Paul Mason on the picket line

Remember, this guy who is married to Jane Bruton-very well paid editor in chief of Grazia (who did some extremely pro labour/pro Brown articles in the run-up to the last election), will have a household income well in excess of £1/2 million pounds a year.

That's why I didn't expect him to say it.

The ruling elite thought they could buy off the underclass while they got on with the business of lining their own pockets

they have now realised that the cost of doing so is going to bankrupt the system which has made them rich.

So the underclass are going to have to accept less - even if it takes water cannons and rubber bullets to make them realise this.

[Jack's Creation]

That's why I didn't expect him to say it.

The ruling elite thought they could buy off the underclass while they got on with the business of lining their own pockets

they have now realised that the cost of doing so is going to bankrupt the system which has made them rich.

So the underclass are going to have to accept less - even if it takes water cannons and rubber bullets to make them realise this.

Perhaps he's changed his mind about the whole Marxism thing.

If you read the pensions link, he's certainly very unhappy about having his own public sector pension reduced. But, it's only the underclass that should have to accept less.

Edited March 14, 2012 by Jack's Creation

[Game_Over]

Perhaps he's changed his mind about the whole Marxism thing.

If you read the pensions link, he's certainly very unhappy about having his own public sector pension reduced. But, it's only the underclass that should have to accept less.

Same as Alistair Darling then?

[Jack's Creation]

Same as Alistair Darling then?

To name but one.

This generation of Boomer radicals (both in the political and Media class) have caused profound long term damage to this country and the Generations that followed them.

Most of them are Traitors in the truest sense of the word.